"There are pessimistic scenarios, stress scenarios where oil production in Russia decreases by 5-10% in the next two-three years, no more. This cannot have a major impact on the situation on oil markets," Dvorkovich said.

The drop in production might be due to reduced investment in offshore projects and "other projects," Dvorkovich said.

Oil production in Russia has now stabilized at more than 500 million tonnes per year, Dvorkovich said.